CHART OF THE DAY: 'Total Collapse' In Greece

Check out the Greek ISM, which
has now come in sub-50 for 30 straight months, and which is now
at a survey low of 37.7.

There's something remarkable you have to realize here, which is
that to some extent, ISM reports are mean reverting. Eventually
it gets hard for more companies to have sequential declines than
in the month before, because you just get to some kind of floor
in business.